Report: A majority of consumers want to prioritize buying from Black-owned businesses

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A new survey by Dynata found that most (60%) of consumers surveyed are already prioritizing or want to prioritize buying from Black-owned businesses, revealing that supporting Black-owned businesses is top-of-mind for consumers. 

Taking a closer look at how consumers put this into action, the survey uncovered that the majority of consumers start online or tap their inner circles when they’re looking to support Black business owners. For instance, nearly half of those surveyed say they are learning about Black-owned businesses from social media, and 42% say they hear about them by word of mouth. As online reviews and word-of-mouth recommendations continue to drive consumers to make purchasing decisions, customer experience has emerged as a key indicator of the continued growth of these businesses. 

The current state of the world is a consideration that is impacting consumers’ purchasing decisions. As more and more consumers put their money behind brands with aligning values, a strategic approach to understanding the customer is required. For example, the data also reveals that over the past year, many consumers have altered their buying habits due to climate change or social justice issues. In fact, nearly one quarter of consumers surveyed are now looking for sustainable brands, 19% look for BIPOC (Black, Indigenous, and People of Color)-owned brands, and 19% look for small businesses to shop from.

In an effort to better understand how today’s consumers are approaching ways to support Black-owned businesses in recognition of Black History Month, leading market research tool, Dynata, conducted a survey of 1,000 Americans (ages 18-65+) on behalf of ActiveCampaign, from January 26 – 28, 2021. 

Read the full report by Dynata.

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